BNP Paribas Financial Markets Acquires Shares of 14,123 Procore Technologies, Inc. (NYSE:PCOR)

BNP Paribas Financial Markets purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 14,123 shares of the company's stock, valued at approximately $1,058,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in shares of Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock valued at $1,605,000 after buying an additional 3,390 shares during the period. Raymond James Financial Inc. purchased a new stake in Procore Technologies in the fourth quarter worth about $20,729,000. Barclays PLC grew its holdings in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after purchasing an additional 22,734 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Procore Technologies in the fourth quarter worth about $56,000. Finally, KBC Group NV grew its holdings in Procore Technologies by 1,550.7% in the fourth quarter. KBC Group NV now owns 44,933 shares of the company's stock worth $3,367,000 after purchasing an additional 42,211 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Stock Performance

Procore Technologies stock traded down $0.37 during midday trading on Monday, reaching $67.30. 1,188,732 shares of the company traded hands, compared to its average volume of 1,718,696. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of -93.47 and a beta of 0.90. The business has a 50 day moving average of $64.86 and a two-hundred day moving average of $72.70. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PCOR. KeyCorp cut their price objective on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. UBS Group cut their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group cut their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.24.

Insider Activity at Procore Technologies

In other news, insider Benjamin C. Singer sold 4,203 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total value of $289,628.73. Following the completion of the sale, the insider now directly owns 102,057 shares of the company's stock, valued at $7,032,747.87. This represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 1,190 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.00, for a total transaction of $79,730.00. Following the completion of the sale, the chief financial officer now directly owns 146,160 shares of the company's stock, valued at approximately $9,792,720. This trade represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,623 shares of company stock worth $3,144,659 over the last quarter. Company insiders own 29.00% of the company's stock.

Procore Technologies Profile

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.